Alio Gold (ALO)

[stkjunky]

Nice Q1 report. $18.4m after all expenses (cash on hand) and reasonable ($703) per oz. extraction cost. Good future for this one..

Timmins Gold Reports Record Profit From Operations of $19.3 million and Record Earnings Per Share of $0.10 for Q1 2013
Date : 05/08/2013 @ 6:00AM
Source : Marketwired
Stock : Timmins Gold Corp Common Shares (Canada) (TGD)
Quote : 2.27 0.0 (0.00%) @ 2:05AM



Timmins Gold Reports Record Profit From Operations of $19.3 million and Record Earnings Per Share of $0.10 for Q1 2013
PrintAlert
Timmins Gold Corp Common Shares (Canada) (AMEX:TGD)
Intraday Stock Chart
Today : Wednesday 8 May 2013

Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) (the "Company") is pleased to report its financial results for the first quarter ended March 31, 2013. The comparative period is the three months ended March 31, 2012. All results are presented in United States dollars ("US Dollars") unless otherwise stated. Readers should refer to the 2013 management discussion and analysis and consolidated financial statements for complete information.
FIRST QUARTER HIGHLIGHTS

-- Metal revenues were a record $45.9 million, compared to $35.7 million
during the same prior year period. This represents a 29% increase over
the prior year.

-- Profit from operations was a record $19.3 million, compared to $13.0
million during the same prior year period. This represents a 48%
increase over the prior year.

-- Earnings were a record $14.3 million or $0.10 per share, compared to
$5.6 million or $0.04 per share during the same prior year period. This
represents a 155% and 150% increase, respectively, over the prior year.

-- Cash flows from operations were $21.8 million or $0.15 per share,
compared to $13.1 million or $0.09 per share during the same prior year
period. This represents a 51% and 67% increase, respectively, over the
prior year.

-- Cash at March 31, 2013 was $26.9 million after investing $15.0 million
in exploration and plant expansion during the quarter. Cash at March 31,
2012 was $18.4 million after investing $5.8 million in exploration and
plant expansion.

-- The Company produced a record 28,328 ounces of gold and sold a record
28,642 ounces of gold, compared to 21,532 and 21,235, respectively,
during the same prior year period. This represents a 32% and 35%
increase of ounces produced and sold, respectively, over the prior year.

-- The Company's cash cost per ounce on a by-product basis was $703,
compared to $715 during the same prior year period. This decrease in
cash costs is due to cost reduction initiatives implemented in 2012
including a reduction in mining services cost and a reduction in the
cost of chemicals, as well as higher grades realized in the current
quarter.

-- The drill program for the Gold Property continued in Q1 2013 with a
total of 86,023 meters drilled:

-- A total of 50,803 meters of drilling were completed in and around
the San Francisco open pit gold mine ("the Mine");
-- A total of 21,030 meters were drilled on the La Chicharra open pit
gold mine ("La Chicharra") located two kilometers west of the Mine;
and
-- A total of 11,753 meters were drilled in exploration areas around
the San Francisco and La Chicharra pits with an additional 2,437
meters of core drilling.

-- Significant milestones:

-- During March 2013, the Company produced and sold a record 12,457 and
15,396 ounces of gold, respectively, and processed a record average
of 19,908 tonnes per day.

SUMMARIZED ANNUAL FINANCIAL STATEMENTS AND OPERATING RESULTS

----------------------------------------------------------------------------
First Quarter First Quarter
US dollars (thousands) unless otherwise Ended Ended
indicated March 31, 2013 March 31, 2012
----------------------------------------------------------------------------
Gold sold (oz) 28,642 21,235
----------------------------------------------------------------------------
Silver sold (oz) 14,313 11,170
----------------------------------------------------------------------------
Metal revenues $ 45,889 $ 35,688
----------------------------------------------------------------------------
Production costs, excluding depletion and
depreciation $ 20,505 $ 15,585
----------------------------------------------------------------------------
Profit from operations $ 19,253 $ 13,043
----------------------------------------------------------------------------
Earnings $ 14,291 $ 5,623
----------------------------------------------------------------------------
Earnings per share, basic and diluted $ 0.10 $ 0.04
----------------------------------------------------------------------------
Cash flows from operations $ 21,824 $ 13,131
----------------------------------------------------------------------------
Total cash, end of period $ 26,852 $ 18,432
----------------------------------------------------------------------------
Total assets, end of period $ 239,075 $ 214,647
----------------------------------------------------------------------------
Total by-product cash costs per gold ounce $ 703 $ 715
----------------------------------------------------------------------------
Average realized gold price per gold ounce $ 1,602 $ 1,681
----------------------------------------------------------------------------

"Q1 was the Company's strongest quarter to date as evidenced by record profit from operations and earnings per share," stated Mr. Bruce Bragagnolo, CEO of Timmins Gold Corp. "The cost reduction initiatives the Company initiated in 2012 are having a positive impact. We added a significant amount of cash to our balance sheet despite a relatively large capital spend during the quarter, mainly related to the infill drilling program which is almost completed. At current gold prices the Company expects to continue to materially add to its cash balance throughout the year."
Reminder of Q1 2013 results conference call:
The Company's senior management will host a conference call to discuss Q1 2013 financial results on May 8, 2013 at 11:15 am (EST). Participants may join the call by registering online through a link on the Timmins Gold website homepage www.timminsgold.com and entering the following passcode 452728 or following this link http://selfreg6.bellconferia.ca/webportal3/reg.html?Acc=1264852366&Conf=125083. After entering your information, you will be given a passcode and pin that you will need to join the conference call on May 8. Participants may join the call by dialing toll free 1-888-789-9572 (Canada and U.S.) or 1-416-695-7806 (International) and entering their personal passcode and pin. A replay of the call will be available after the call until May 14, 2013, by dialing 1-800-408-3053 (Canada and U.S.) or 1-905-694-9451 (International) with the passcode 4258434. A live and archived audio webcast will also be available at www.timminsgold.com.
About Timmins Gold
Timmins Gold is in commercial gold production at its wholly owned San Francisco Gold Property in Sonora, Mexico. The mine is an open pit heap leach operation from which Timmins Gold has projected production of 125,000 to 130,000 ounces of gold in 2013.
On behalf of the Board:
Bruce Bragagnolo, LLB, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements